CAD/CHF 1H Chart: Channel Up

As CAD/CHF gained a solid foothold above 0.8230, it was able to advance further north and form a bullish channel. Accordingly, the currency pair should soon decouple from the lower trend-line of the pattern and head towards the corridor's upper edge at 0.8440. This idea is also strengthened by the near-term technical indicators.

Conversely, if the Canadian Dollar does not manage to preserve the upward momentum as it did during the past 180 hours, the support area at 0.8306, created by the daily S2, Jun 25 low and 200-hour SMA, will try to prevent further extension of a decline.